Market Insights Health OTC Pharmaceuticals

Cold & Cough Remedies - Argentina

Argentina

In Argentina, the revenue in the Cold & Cough Remedies market market reaches US$60.72m in 2024.
It is projected to experience an annual growth rate of 6.39% (CAGR 2024-2029).
When compared to other countries worldwide, the in the United States generates the highest revenue, amounting to US$11,190.00m in 2024.
In terms of per capita revenue, in Argentina generates US$1.32 per person in 2024.
Despite economic challenges, Argentina's demand for cold and cough remedies in the OTC Pharmaceuticals market continues to grow steadily.

Key regions: Australia, Japan, India, Brazil, Canada

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Analyst Opinion

The Cold & Cough Remedies market in Argentina is experiencing steady growth due to several factors.

Customer preferences: Customers in Argentina have a strong preference for over-the-counter remedies for cold and cough symptoms. They often seek quick relief from their symptoms and prefer products that are easily accessible without a prescription. This preference for convenience and self-medication has contributed to the growth of the market.

Trends in the market: One of the key trends in the Cold & Cough Remedies market in Argentina is the increasing demand for natural and herbal remedies. Customers are becoming more conscious of the ingredients in the products they use and are seeking alternatives to traditional pharmaceutical remedies. This trend is driven by a growing interest in holistic health and wellness, as well as a desire for products that are perceived as safer and more sustainable.Another trend in the market is the rising popularity of combination remedies. Customers are looking for products that target multiple symptoms at once, such as those that provide relief for both cold and cough symptoms. Combination remedies offer convenience and cost savings for customers, as they eliminate the need to purchase multiple products for different symptoms.

Local special circumstances: Argentina has a high prevalence of cold and cough symptoms, particularly during the winter months. The country's climate and seasonal changes contribute to the spread of respiratory illnesses, leading to a higher demand for cold and cough remedies. Additionally, the country's large population and urbanization further drive the market growth.

Underlying macroeconomic factors: The Cold & Cough Remedies market in Argentina is also influenced by macroeconomic factors. The country's economic stability and increasing disposable income levels have allowed consumers to spend more on healthcare products, including cold and cough remedies. Furthermore, the growing middle class in Argentina has led to an expansion of the consumer base for these products.In conclusion, the Cold & Cough Remedies market in Argentina is growing due to customer preferences for over-the-counter remedies, the increasing demand for natural and combination remedies, the local prevalence of cold and cough symptoms, and the underlying macroeconomic factors. As these factors continue to drive the market, it is expected to experience further growth in the coming years.

Methodology

Data coverage:

Data encompasses B2C spend. Figures are based on the OTC Pharmaceuticals market values, representing revenues generated by both product sales which take place exclusively in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use data from national statistical offices, international institutions, trade associations, and self-medication associations. Next, we use relevant key market indicators and data from country-specific associations, such as consumer healthcare spending, out-of-pocket healthcare expenditure, health system accessibilities, and GDP. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. Whereas this market covers only OTC drugs, the Statista Pharmaceuticals market covers both OTC and prescription drugs.